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Since the company’s founding, Kodak had maintained a policy of treating its employees fairly and with respect, earning the nickname of the “Great Yellow Father.”
George Eastman believe that an organization’s prosperity was not necessarily due to its technological achievements, but more to its workers’ goodwill and loyalty. As a result, company benefits were well above average, morale had always remained high, and employees never felt the need to unionize.
1990- Kodak admitted to have violated New York’s environmental regulations and was fined $1 million. It also agreed to clean up the site of its Kodak Park manufacturing facility and reduce chemical emissions from the plant.
Digital still and video cameras, picture frames, kiosks, APEX drylab systems, consumer inkjet printing systems, gallery products & services and imaging sensors & licensing activities related to digital imaging
"Sustainability is about being viable into the future. We create memories. We preserve culture. We preserve history. It’s important that what we do everyday makes a difference to consumers, to businesses — to capture and preserve the essence of life."
(Brad Kruchten, Film, Photofinishing and Entertainment Group)
Extent of Reliance on Financial Reporting and Control to achieve objectives
A multinational company like Kodak should equally rely on accurate financial systems reporting data and experience.
Its multiple operations in different countries, wide array of products and services, research and development efforts in the three business segments have made the company reliant on figures (Statement of Operations & Cash Flow) to plan for its market strategies –whether expansion or cost cutting, product diversification or sale of an asset like its health group in 2007.
Accurate and on-time consolidation of reports is the basis of sound management policies.
Human resource hiring and training should be one of Kodak’s utmost priorities, they must return to their original concept of treating their employees fairly and with respect.
During the last three worldwide cost cutting issues, Kodak has always resorted to workforce reduction which is in contradiction to George Eastman’s belief that an organization’s prosperity was not necessarily due to its technological achievements, but more to its workers’ goodwill and loyalty.